<p>OP - I hope your first year will help you clarify your goals. The MBA only makes sense if your’re thinking of running a non-profit of some sort, otherwise your probably looking at a Phd. and seeking work in think-tank, policy type positions or academic career. You will have a lot of competition for those jobs from indebted Phd.'s who don’t have academic careers materializing so make sure you get lots of experience through internships along the way.</p>
<p>Given your aspirations eliminating debt for undergrad is going to be very important; and managing overall debt load until you get to a decent job will take some planning.</p>
<p>The scenario mentioned above where you incur debt and then don’t get a decent LSAT score is far from your worst nightmare - worse would be that you go to law school on top of pricey undergrad and don’t pass the bar - repeatedly, perhaps indefinitely. And the loans don’t go away just because the big paycheck never showed up.</p>
<p>Take the financial safety for now and be the big fish in your little pond, figure out what you really want to do and get internships that help you refine your choice so you can make a good decision about what kind of degree you really need and don’t become a professional student with no hope of financial independence.</p>